MGP Ingredients (NASDAQ:MGPI) Major Shareholder Sells $715,500.00 in Stock

MGP Ingredients, Inc. (NASDAQ:MGPI) major shareholder Caroline Lux Kaplan sold 30,000 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $23.85, for a total transaction of $715,500.00. Following the sale, the insider owned 560,958 shares of the company’s stock, valued at $13,378,848.30. This trade represents a 5.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

MGP Ingredients Stock Down 1.1%

Shares of MGP Ingredients stock traded down $0.26 during trading hours on Thursday, reaching $22.69. The company’s stock had a trading volume of 414,636 shares, compared to its average volume of 310,473. The company has a market capitalization of $483.16 million, a P/E ratio of -33.87 and a beta of 0.39. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 2.78. MGP Ingredients, Inc. has a one year low of $22.58 and a one year high of $48.44. The stock’s fifty day simple moving average is $25.05 and its two-hundred day simple moving average is $28.36.

MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.62 by $0.23. The firm had revenue of $130.91 million during the quarter, compared to the consensus estimate of $128.33 million. MGP Ingredients had a positive return on equity of 9.65% and a negative net margin of 2.56%.The company’s quarterly revenue was down 18.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.29 earnings per share. MGP Ingredients has set its FY 2025 guidance at 2.600-2.750 EPS. On average, research analysts forecast that MGP Ingredients, Inc. will post 5.56 earnings per share for the current year.

MGP Ingredients Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, November 14th. MGP Ingredients’s dividend payout ratio (DPR) is presently -71.64%.

Hedge Funds Weigh In On MGP Ingredients

A number of large investors have recently modified their holdings of the company. Brooklyn Investment Group lifted its stake in MGP Ingredients by 2,365.7% in the 1st quarter. Brooklyn Investment Group now owns 863 shares of the company’s stock worth $25,000 after purchasing an additional 828 shares in the last quarter. Osaic Holdings Inc. increased its holdings in shares of MGP Ingredients by 130.3% in the second quarter. Osaic Holdings Inc. now owns 935 shares of the company’s stock worth $28,000 after purchasing an additional 529 shares during the period. Tower Research Capital LLC TRC boosted its stake in MGP Ingredients by 278.9% during the second quarter. Tower Research Capital LLC TRC now owns 1,883 shares of the company’s stock valued at $56,000 after buying an additional 1,386 shares during the period. CWM LLC grew its position in MGP Ingredients by 127.4% during the first quarter. CWM LLC now owns 2,051 shares of the company’s stock worth $60,000 after buying an additional 1,149 shares in the last quarter. Finally, Signaturefd LLC increased its stake in MGP Ingredients by 1,055.2% in the 1st quarter. Signaturefd LLC now owns 2,218 shares of the company’s stock worth $65,000 after acquiring an additional 2,026 shares during the last quarter. 77.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on MGPI shares. TD Cowen cut their price objective on MGP Ingredients from $30.00 to $27.00 and set a “hold” rating on the stock in a research report on Thursday, October 30th. Weiss Ratings reiterated a “sell (d)” rating on shares of MGP Ingredients in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company reduced their price target on shares of MGP Ingredients from $38.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, MGP Ingredients has an average rating of “Moderate Buy” and an average target price of $40.00.

MGP Ingredients Company Profile

MGP Ingredients, Inc, together with its subsidiaries, engages in the production and supply of distilled spirits, branded spirits, and food ingredients in the United States and internationally. The company operates through three segments: Distillery Solutions; Branded Spirits; and Ingredient Solutions.